This vintage safety razor is an Adjustable Injector razor. PAL introduced this model in June of 1962. PAL got their start making blades compatible with the Schick Injectors. Then they began making razors. While PAL isn't in business any more, you can still use the Schick injector blades in the razors. This one has 5 adjustments ranging from L (low) to H (high). For a long time, we weren't really sure whether PAL or Schick first had the idea for an adjustable injector razor. They both date from about the same time. However, we recently saw an ad where PAL was at least claiming "the first adjustable injector razor". These razors were very popular due to their sleek styling, comfortable grip, and adjustable cut.
Overall, this is an excellent razor. The brushed stainless steel of the handle does have a spot of discoloration. You could probably buff it out. The rest of the metal parts are pretty much perfect. The dark grey plastic of the handle doesn't have the color variation that can be common in this model. However, there is a spot where the texturing has a bump, and there's a little but of white residue our "light clean and sterilize" process didn't get off. The adjustment dial works perfectly. Even with the noted flaws, this is an attractive razor.
Very nice razor. Ready to use or display.